Abu Dhabi, UAE: Foreign direct investment (FDI) by individuals into Abu Dhabi’s property sector soared to Dh834.6 million during the first half of 2023, the Department of Municipalities and Transport (DMT) has announced. This remarkable figure represents an astounding increase of 363 percent compared to the same period in 2022, setting a new record. Dr Adeeb Al-Afifi, Executive Director of the...
Investing in property can be a lucrative venture, but timing is crucial. If you're considering investing in the real estate market in Abu Dhabi, it's natural to wonder whether the current conditions are favorable. We will delve into the factors that can influence your decision and help you evaluate whether it is a good time to invest in property in Abu Dhabi. Economic Stability: Abu Dhabi, the capital...
Abu Dhabi: Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, has launched Balghaiylam, a new residential development located north-east of Yas Island, which is being developed by Aldar. The Dh8 billion project, to be completed by 2026, will offer 1,743 ready-built homes to citizens who have received housing loans from the Abu Dhabi...
The value of real estate transactions in Abu Dhabi during Q1 2023 has increased by 147% compared to the same period last year, while the number of transactions rose by 67%. The real estate indicators released by the Department of Municipalities and Transport (DMT)showed that the sector has recorded 3,518 property sales worth AED16.2 billion ($4.41 billion), compared to 1,722 transactions worth AED4.4...
The preference was attributed to factors such as government initiatives, dynamic society and ambitious infrastructure projects Abu Dhabi was recognised as an excellent place to live by industry expert, Carlos Wakim, CEO of Bloom Holding. The attractiveness of the capital as a residential hub was attributed to several initiatives including Golden Visa, freelance visas, ambitious infrastructure...
The UAE economy’s strength and recovery from the aftermath of the Covid-19 pandemic are evident in the positive projections made by international institutions and banks including the International Monetary Fund (IMF) and World Bank. “The UAE is poised for positive economic growth as it is projected to achieve a 3.6 per cent increase in its gross domestic product this year, driven by...
Aldar, IHC and Adnec team up to create property and facilities management giant Aldar, IHC and Adnec are set to team up to form a new property and facilities management giant with a portfolio of 135,000 properties in the region. Eltizam Asset Management Group, which is jointly owned by IHC and ADNEC Group, will merge with Aldar Estates. Aldar will hold a majority stake and retain control of...
RAK Properties plans to launch four new residential projects and a hotel project in Ras Al Khaimah this year and aims to surpass last year’s profitability on the back of higher sales, its chief executive has said. The value of the projects will be “in the billions of dirhams”, Sameh Al Muhtadi told The National in an interview. The new projects consisting of branded...
The UAE real estate market, in particular in Abu Dhabi, continues to grow. The emirate demonstrates a high rate of development, which directly affects the economy of the capital. A wide range of properties with different pricing categories are offered in Abu Dhabi by some of the most sought-after developers, in the most attractive locations. The government is determined to attract highly skilled and...
Abu Dhabi has the fastest-growing economy in the Middle East and GDP growth is at a nine-year high Abu Dhabi’s booming economy hit a nine-year high in the first three months of this year, according to official Statistics Centre statistics. This growth was driven by the robust performance of non-oil economic activities in the emirate. Statistics Centre – Abu Dhabi (SCAD) released...
